Kazakhstan may boost uranium production to 30,000 tons a year

Kazakhstan may boost uranium production to 30 000 tons a year, Sergey Yashin, KazAtomProm Nuclear Company Vice Chairman of the Board, said speaking at the VI KAZENERGY international forum in Astana October 5, Bnews.kz reports. “The global demand for uranium has undergone some correction following the Fukushima disaster. However, the global consumption is growing. Given the recent demand adjustments, uranium production output needs to increase 1.5 times by 2030. The question is what country can secure the boost. Kazakhstan is among the few countries capable of increasing uranium production fast”, Yashin said. “As of today annual production output stands at about 20 000 tons, that is 33% of the global production. We can reach 25-30 000 tons a year if needed”, he said, adding that “further increase in uranium production output is only possible in case of the market demonstrating further demand”. “Kazakhstan has extracted only 4.2% of its overall reserves so far”, he elaborated. In 2009 the uranium production output grew from 8521 in 2008 to 14 020, enabling Kazakhstan to become the global leader in terms of production. Estimated uranium production output in 2011 stands at 19 800 tons. For the first 8 months Kazakhstan produced a total of 12 284 tons of uranium, Profinance.kz quoted the Press Service of KazAtomProm National Nuclear Company September 28. KazAtomProm is Kazakhstan's major exporter of uranium and its compounds, rare metals, nuclear fuel for nuclear power stations, special equipment, technologies and dual-usage materials.